Value Place Plans to Build Dozen Hotels in Southern California
Wednesday February 26th, 2014 - 10:12AM G
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WICHITA, KS—Value Place plans to build 12 hotels in southern California as it begins expanding the hotel brand there. Value Place is actively pursuing potential building sites.
Value Place is working with San Diego-based KZ DevCo, which has a development portfolio in the region, including CVS Pharmacy, Starbucks, Petco, Burger King, 7-Eleven, Applebee’s, Whole Foods and FedEx Office (formerly Kinkos).
Targeted markets include, but are not limited to, metro Los Angeles, San Diego, Long Beach, Orange County, Riverside and Ventura. Some of the new Value Place properties will be corporate owned and operated, while others will be developed by Value Place franchisees.
“Housing and lodging costs are particularly challenging for travelers and new residents here, which is one of the reasons Value Place is a great fit,” says KZ DevCo general partner, Mark Zimmerman.
Tags: Value Place • California • Hospitality • Construction/Renovation •
When you hear all the lodging industry projections for the months and years to come, much of the robust growth is forecast to be the result of the expected influx of travelers from China. In what could only be seen as good news for the industry, that expectation moved a little closer to reality when President Obama signed a visa waiver extension for Chinese travelers earlier this month.